The crypto market failed to get into a bullish momentum over the weekend and continued to be slowed down. Bitcoin, which was trading at $85,000 last week, managed to reclaim the price point of $87,530 on Monday, November 24. The price of the most expensive cryptocurrency rose by 1.71 percent in the last 24 hours. Its weekly price average, however, remains dipped by over seven percent.
In conversation with CoinHeadlines, analysts said that while slowly, the market is starting to show signs of recovery.
“Derivatives data indicate that top traders are gradually increasing their long exposure. Futures funding rates have risen from four percent to six percent, indicating early signs of stabilization. Additionally, Bitcoin spot ETFs recording positive net inflows of over $238 million have also contributed to the momentum. If these trends hold, Bitcoin could make a move toward $96,000, with $80,000 continuing to serve as a strong support zone,” Mudrex CEO Edul Patel said, commenting on the market situation.
Ether came close to $3,000 over the weekend, but is yet to reclaim the price mark. On Monday, ETH reflected a 24-hour price hike of 1.57 percent to trade at $2,866, showed CoinMarketCap. The asset’s seven-day price movement shows a dip of nearly 10 percent. Its price as of November 21 stood at $2,800.
“Ethereum showed steady recovery from $2,750, while facing its next resistance at $3,100. As the crypto selloff widens, institutional buyers are quietly nibbling, hinting at growing interest at lower levels. The recent market pullback is highlighting a clear divide between fast-money traders, who are retreating, and long-term investors, who are viewing the drop as a buying opportunity,” Piyush Walke, Derivatives Research Analyst at Delta Exchange told CoinHeadlines.
While a majority of altcoins did register small gains on Monday, they showed constant fluctuations at the time of writing, struggling to stabilise. XRP, BNB, Solana, Tron, Dogecoin, and Cardano minted miniscule gains of under three percent over the last day. Stellar, Hedera, Avalanche, Shiba Inu, Aave, and Canton also followed similar price trajectories.
Monero joined Cronos, Polkadot, Toncoin, Mantle, Aster, and Aptos, meanwhile, in clocking small losses in the last 24 hours.
The overall crypto market cap rose by 1.30 percent amid market winds turning slightly favourable. The valuation of the sector presently stands at $2.99 trillion. The score of 12 on the Fear and Greed Index indicates the extreme fear sentiment among investors.
“The broader crypto market reflects caution: liquidity is tight, regulation uneven, and sentiment mixed, yet institutional demand through ETFs continues to anchor the outlook. Overall, prices may stay choppy in the near term, but sustained inflows and improving market structure keep Bitcoin positioned for a potential higher-trend continuation over time,” said Sathvik Vishwanath, Co-Founder and CEO, Unocoin, in conversation with CoinHeadlines.
As per CoinGlass, 07,647 traders were liquidated with the total liquidations hitting $209.25 million in the past 24 hours.